Short-term increase.
(By Yann Quelenn)
• USD/JPY keeps on pushing higher. The pair
has strongly bounced back. Hourly resistance is
given at 112.70 (30/11/2017 high).
• We favor a long-term bearish bias. Support is
now given at 99.02 (10/08/2013 low). A gradual
rise towards the major resistance at 125.86
(05/06/2015 high) seems unlikely. Expected to
decline further support at 93.79 (13/06/2013 low).
